In sliding 8.11%, Galway Metals Inc. (CDX:GWM:CA) was one of the worst performing stocks in the miscellaneous sector of the TSX Venture Exchange on January 13. After closing the previous session at $0.37, shares of GWM:CA opened this morning at $0.34 and closed the day at $0.34. Throughout the day, about 26,683 shares changed hands, compared to an average 30-day volume of 46,239 for Galway Metals Inc.. Shares moved as high as $0.37 and as low as $0.34 in today’s trading action.
The share depreciation gives the company a market capitalization of $21.5 million based upon 58.1 million shares outstanding.
In the past 52 weeks, shares of Galway Metals Inc. have traded as low as $0.095 and as high as $0.65. Technical traders will take note that at $0.34, shares of GWM:CA are trading below their 50-day moving average (MA) at $0.34 and above their 200-day MA at above $0.299. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath or holding under them is typically regarded as bearish.
Who is $Galway Mtls?
Galway Metals Inc is engaged in the acquisition, exploration, development and operation of mineral resource projects in New Mexico. The Company is in the process of exploring the Victorio Project, a molybdenum-tungsten exploration project in New Mexico. The company is led by its CEO Robert Hinchcliffe from its headquarters at 36 Toronto Street.
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About the TSX Venture Exchange
Owned and operated by the TMX Group, the TSX Venture Exchange is a public venture capital marketplace for emerging companies. It is headquartered in Calgary, Alberta, Canada with offices in Toronto, Vancouver and Montreal. All trading on the exchange is done electronically. Originally established in 1999, the “Venture,” as it is often shortened, was previously known as the Canadian Venture Exchange, but renamed in 2001 subsequent to the TSX Group (now known as the TMX Group) purchasing it.
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